India, Sri Lanka mull using ₹ for trade; B'desh considers ₹-taka trade
07 Mar 23 1 min read
The matter of taka-rupee bilateral exchange and use of a dual currency card by Bangladeshi and Indian nationals was brought up at a meeting of Bangladesh's National Economic Council chaired by Prime Minister Sheikh Hasina, as per Bangladeshi media reports.
The move would also reduce the pressure on foreign currency, given the large volume of payments to India, Bangladesh Bank governor Abdur Rouf Talukder reportedly told the meeting.
The development, if fructifies, is expected to reduce the cost of trade as well as losses due to rupee-dollar and taka-dollar differences. The exchange rate is expected to be derived from the two currencies and would not be worked backwards from the exchange rate of the US dollar.
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- Bangladesh receives $3.004 bn in FDI in 2023, a decrease of 14% YoY
The latest bilateral deliberations between India and Bangladesh took place on the sidelines of the G20 finance chiefs meeting in Bengaluru on February 24-25.
Fibre2Fashion News Desk (DS)
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